📷 Image: Wikimedia Commons / শরদিন্দু ভট্টাচার্য্য
Crime
ED Seizes Assets Worth ₹37 Crore in Saga Group Ponzi Scam Raids in Bhopal and Mumbai
✍️ Amar Ujala · Bhopal
🗓 19 Aug 2026, 09:47 AM
👁 21
The Enforcement Directorate conducted raids on Saga Group premises in Bhopal and Mumbai, confiscating assets valued at around ₹37 crore and freezing additional properties linked to the alleged Ponzi scheme.
The Enforcement Directorate (ED) executed coordinated raids on locations associated with the Saga Group in Bhopal, Madhya Pradesh, and Mumbai, Maharashtra. Officials targeted premises suspected of being used to further a large-scale Ponzi fraud, seizing cash, jewellery, and other valuables estimated at roughly ₹37 crore.
During the operation, the ED also placed a freeze on additional assets linked to the group’s principals, aiming to prevent further dissipation of funds. The seized items are expected to be examined as part of the ongoing investigation into the alleged financial scam.
Authorities have not disclosed the names of the individuals arrested, if any, but indicated that the action is part of a broader effort to curb financial frauds that affect investors across the country. The investigation remains active, and further updates will be provided as the case progresses.
The raids underscore the ED’s intensified focus on tackling large Ponzi schemes that have drawn complaints from investors in multiple states. The agency has urged victims to cooperate with investigators and submit any relevant documentation.
The Saga Group, previously reported for its investment promises, now faces heightened scrutiny as law enforcement works to recover losses for affected investors and hold the alleged perpetrators accountable.
During the operation, the ED also placed a freeze on additional assets linked to the group’s principals, aiming to prevent further dissipation of funds. The seized items are expected to be examined as part of the ongoing investigation into the alleged financial scam.
Authorities have not disclosed the names of the individuals arrested, if any, but indicated that the action is part of a broader effort to curb financial frauds that affect investors across the country. The investigation remains active, and further updates will be provided as the case progresses.
The raids underscore the ED’s intensified focus on tackling large Ponzi schemes that have drawn complaints from investors in multiple states. The agency has urged victims to cooperate with investigators and submit any relevant documentation.
The Saga Group, previously reported for its investment promises, now faces heightened scrutiny as law enforcement works to recover losses for affected investors and hold the alleged perpetrators accountable.